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110 Samaritan Dr 2,400 SF Office/Medical Condo Unit Offered at $596,000 in Cumming, GA 30040
Investment Highlights
- Leased to a national medical chain tenant, Geode Health, with multiple extension options.
- Recently updated with a new roof and security system for reduced maintenance costs.
- Approximately 80 surface parking spaces available within the complex for tenant and visitor convenience.
- Projected 7% cap rate supported by long-term lease and steady rental escalations.
- Includes an additional 200 square feet shared by attorneys, adding flexibility and revenue potential.
- Located near Canton Road with connectivity to surrounding retail, business, and residential areas.
Executive Summary
There are a total of 4 suites that have been combined into 2 spaces, #101-2 and #103-4. Both have national chain tenants in place. #103-4 has closed! Only #101-2 is left for sale! The property is a commercial office condominium located in downtown Cumming, GA at 110 Samaritan Drive. The building was constructed in 2008 and has two stories totaling approximately 26,400 square feet. The parcel numbers are C08-000-124 and C08-000-130. Zoning for this property is OI/GC, and it is situated near major local roadways, including Kelly Mill Road and Canton Road, providing access to the surrounding Cumming business district. The property includes approximately 80 surface parking spaces. #103-4 which is Koch Foods, C08-000-130 is under contract. #101-2 is still available.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | No. Parking Spaces | 80 |
| Cap Rate | 7.00% | APN/Parcel ID | C08-124 |
| Sale Type | Investment |
| Cap Rate | 7.00% |
| No. Parking Spaces | 80 |
| APN/Parcel ID | C08-124 |
Description
There are a total of 4 suites #101-2 and #103-4 Combined into 2 for National Tenants
#103-#104 with Koch Foods has closed! Only #101-103 left!
**Long-term Tenants**: The property is currently leased to a national chain tenant, Geode Health, with 3 plus years remaining on their lease. Extensions are available, providing stability and potential for long term revenue.
**Financials**: The condo offers a competitive **7% CAP rate** making it an attractive investment. Additionally, it benefits from Very low HOA/CAM fees, enhancing its profitability. This space houses a national chain medical facility. The practice is in a thriving community. Its combination of location, tenant stability, and tailored features make it a compelling choice for investors.
#103-#104 with Koch Foods has closed! Only #101-103 left!
**Long-term Tenants**: The property is currently leased to a national chain tenant, Geode Health, with 3 plus years remaining on their lease. Extensions are available, providing stability and potential for long term revenue.
**Financials**: The condo offers a competitive **7% CAP rate** making it an attractive investment. Additionally, it benefits from Very low HOA/CAM fees, enhancing its profitability. This space houses a national chain medical facility. The practice is in a thriving community. Its combination of location, tenant stability, and tailored features make it a compelling choice for investors.
Sale Notes
Location! Location! Location! Located in Downtown Cumming. Offering maximum frontage and easy ingress and egress! This well-maintained space presents a unique investment opportunity in an excellent location, close to Canton Road. With a national chain tenant already in place, this property ensures a steady income stream, making it a sound investment choice.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 101-102 | 2,400 SF | Office/Medical | $596,000 ($248.33/SF) | $41,720 |
Unit 101-102
| Unit Size |
| 2,400 SF |
| Condo Use |
| Office/Medical |
| Price |
| $596,000 ($248.33/SF) |
| NOI |
| $41,720 |
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Unit 101-102
| Unit Size | 2,400 SF |
| Condo Use | Office/Medical |
| Price | $596,000 ($248.33/SF) |
| NOI | $41,720 |
| Sale Type | Investment |
| Cap Rate | 7.00% |
| No. Parking Spaces | 80 |
| APN/Parcel ID | C08-124 |
| Description | |
| There are a total of 4 suites #101-2 and #103-4 Combined into 2 for National Tenants<br> #103-#104 with Koch Foods has closed! Only #101-103 left! <br> **Long-term Tenants**: The property is currently leased to a national chain tenant, Geode Health, with 3 plus years remaining on their lease. Extensions are available, providing stability and potential for long term revenue.<br> <br> **Financials**: The condo offers a competitive **7% CAP rate** making it an attractive investment. Additionally, it benefits from Very low HOA/CAM fees, enhancing its profitability. This space houses a national chain medical facility. The practice is in a thriving community. Its combination of location, tenant stability, and tailored features make it a compelling choice for investors.</li></ul> | |
| Sale Notes | |
| Location! Location! Location! Located in Downtown Cumming. Offering maximum frontage and easy ingress and egress! This well-maintained space presents a unique investment opportunity in an excellent location, close to Canton Road. With a national chain tenant already in place, this property ensures a steady income stream, making it a sound investment choice.</li></ul> |
Property Facts
The following property facts apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Major Tenant Information Click Here to Access
| TENANT | SF Occupied | LEASE END DATE |
|---|---|---|
| Psychiatric Professionals Of Georgia |
-
|
Jan 0000
|
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110 Samaritan Dr
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